Wealth and Finance Weblog

After 3 Interest Rates Rises – What next? – RBA
December 15, 2009, 2:42 pm
The Australian Reserve Bank’s decision to raise interest rates this month was “finely balanced” and, combined with previous hikes, amounted to a material change that gave it more flexibility in the future. Released on yesterday the Minutes of the December meeting, showed the Reserve Bank of Australia’s (RBA) board agreed that interest rates would [...] (more)

New Legistation proposed to give Lenders more investigation powers
October 15, 2009, 11:16 am
"Borrower's repayment history comes under microscope" (more)

Changes to the First Home Owners Grant Scheme Boost and Government Fees
June 15, 2009, 5:15 pm
The Federal Government has extended the First Home Owners Grant Scheme Boost for six months from 1 July 2009 to 31 December 2009. The Federal Government’s First Home Owners Grant of $7,000 will continue. For established homes, customers must enter into the contract no later than 30 September 2009 to receive the $7,000; customers entering [...] (more)

First Home Buyers and Investors Drive Borrowing Surge and Keep the Economy Moving
June 12, 2009, 1:18 pm
Australian Bureau of Statistics latest data reveals a continued increase in housing finance activity, driven by first home buyers and investors. The total value of dwelling commitments rose by 3.6% in April to $21.547 billion, seasonally adjusted, to be up by 10.7% on the same month last year. Investor finance rose by 8.9% over the [...] (more)

2009 Federal Budget Good News For First Home Buyers
May 13, 2009, 3:04 pm
Ending speculation, the mortgage industry has been buoyed by the news last night (May 12th) that an extension of the increased first home owner grant was included in the federal budget. The increased grant will continue until September 30, after which it will be phased down to $14,000 for new homes and $10,500 for existing [...] (more)

Victorian First Home Buyers win government grant increase
May 6, 2009, 6:45 pm
First home buyers in Victoria will receive up to $22,500 in government incentives as of July 1 as part of the states budget measures unveiled this week. Assuming the federal governments first home owner grant reverts back to $7,000 as of July 1, the Victorian government will contribute $2,000 to first home buyers in [...] (more)

First Home Buyers Revive Flagging Property Market
March 11, 2009, 12:56 pm
First home buyers have revived the Australian property market. The danger is that many may soon find the excitement of owning their own place short lived as job losses rise, house prices fall and instances of negative equity grow. Of course such a view is not shared by many; however there is need for caution. [...] (more)

Weak building approvals to persist into 2009
December 6, 2008, 4:03 pm
Building approvals throughout Australia were again weak in October and are expected to remain so for much of 2009. Yesterdays data released by the ABS showed total building approvals fell 5.4% in October, and when seasonally adjusted, 26.1% down on the previous year. Multi-units fell a sharp 11.1% and are now down [...] (more)

Melbourne House Prices Still Rise and RBA Cuts Rates by 1.00%
December 2, 2008, 6:08 pm
Melbourne House Prices Still Rise In An Otherwise Falling Market Melbourne Home prices increased by 1.07% in the 3 months to October to a new $451,661 average price, according to RP Data-Rismark International. Tim Lawless, their National Research Director, said The facts are that over the past 12 months Australian property values have [...] (more)

Banks Drop 100% Home Loans
November 25, 2008, 12:02 pm
Yes that is right, due to the Credit Crunch restricting the funds Banks have available, they have now taken aim at the First Home Buyers. First Home Buyers are facing high borrowing barriers despite falling interest rates as the credit crisis breaks loose on the nation’s real economy. The Commonwealth Bank of Australia, following ANZ [...] (more)